Technical, Entrepreneurial and Vocational Education and Training Authority (Teveta) expects to double its revenue from K3 billion ($5.5 million) to K6 billion ($11 009 174) by November this year following the signing of a memorandum of understanding (MOU) with Malawi Revenue Authority (MRA).
The MOU, which is part of the public sector reform programme, will mandate MRA to start collecting Tevet levy from employers nationwide.
In an interview on the sidelines of a handover ceremony of levy collection from Teveta to MRA, the revenue collection agency commissioner general Tom Malata said his organisation will take advantage of its requisite infrastructural and technical capacity to undertake the exercise.
“Currently, Teveta is collecting K3 billion, but from our database, we feel we should be able to double that to K6 billion. It will not be difficult because we have the skills and experience in the administration of other non-taxes,” he said.
Teveta board chairperson Gilbert Chilinde said the development will help address some of the gaps that exist at the authority.
“This is a breakthrough as we have not been able to trace all employers in the past. MRA, which knows most of the employers through their Pay As You Earn tax, will be of great significance to the success of this approach,” he said.